Miba Aktiengesellschaft

euro adhoc: Miba Aktiengesellschaft
Strategic management decisions
Miba to Sell Naples Plant to Former Managing Director

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Miba, strategic partner to the international engine and automotive industry, is selling its sinter plant in Naples with 170 jobs to an Italian investor on October 31, 2006.  This move is aimed at securing the company’s existence in the long term.  Both parties have agreed not to disclose the purchase price.

By optimizing its location concept, Miba is preparing for the anticipated market growth in the automotive industry in Far East. This includes building a manufacturing facility for shock absorber and small engine components in Suzhou.  The Miba Sinter Group is also investing in its high-tech operations in Vorchdorf and Dolny Kubín/Slovakia.  "Concentrating on specific plants means that we can continue to develop our high levels of quality and productivity and are equipped for future growth," explains CFO Siegfried Dapoz.  This year Miba is investing a total of 35.5 million euros in plant and machinery.  Of this figure, 17.7 million euros will go towards expanding the sinter plants.

What speaks for selling the Naples plant to Italian businessman Giovanni Malvassora, who successfully took over the Turin-based Italian subsidiary in a management buy-out in 2004, is his long-standing experience, which will guarantee the company’s future existence.

The Miba Group Based in Laakirchen/Upper Austria, Miba is a strategic partner and supplier to the international engine and automotive industry.  The Group manufactures sintered components, engine bearings and friction materials for vehicles, trains, ships, aircraft and power stations.  Miba products make them safer, eco-friendlier and more powerful.  The listed company employs some 2,900 people at nine locations worldwide with about half at its local plants in Laakirchen, Vorchdorf and Roitham.  It reported sales of 347 million euros with an operating profit of 21.7 million euros for fiscal 2005-06.

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ots Originaltext: Miba Aktiengesellschaft
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Miba AG, A-4663 Laakirchen, Dr. Mitterbauer-Straße 3

Susanne Dickstein
Head of Corporate Communications
Tel.: +43/7613/2541-1117

Siegfried Dapoz
Chief Financial Officer
Tel.: +43/7613/2541-1471

Branche: Industrial Components
ISIN:      AT0000734835
WKN:        872002
Index:    WBI
Börsen:  Wiener Börse AG / Regulated free trade

Weitere Meldungen: Miba Aktiengesellschaft

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